The city of Oakmont is interested in developing some lake front property into a sports park...
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The city of Oakmont is interested in developing some lake front property into a sports park (picnic facilities, boat docks, swimming area, etc.). A consultant has estimated that the city would need to invest $4 million in this project. In return, the developed property would return $600,000 per year to the city through increased tax revenues and recreational benefits to the public. What would the life of this project need to be in order to be cost-beneficial to the city? The interest rate on municipal bonds is 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. The life of the project needs to be at least whole number.) years in order to be cost-beneficial to the city. (Round up to the nearest The city of Oakmont is interested in developing some lake front property into a sports park (picnic facilities, boat docks, swimming area, etc.). A consultant has estimated that the city would need to invest $4 million in this project. In return, the developed property would return $600,000 per year to the city through increased tax revenues and recreational benefits to the public. What would the life of this project need to be in order to be cost-beneficial to the city? The interest rate on municipal bonds is 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. The life of the project needs to be at least whole number.) years in order to be cost-beneficial to the city. (Round up to the nearest
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Related Book For
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich
Posted Date:
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